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11021 Feather Grass Lane Raleigh, NC 27613

3 Beds 3 Baths 1,412 sqft Built 2001

$254,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $179.89
  • 3 Days on Market
  • MLS # : 2361918
  • Updated Date : 01/16/2021 at 18:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,412 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty United

Listing Agent's Description

Want your own home & fenced yard in a great location? Annoyed by high monthly HOA fees for seemingly no reason? COME HERE! It's totally updated & HOA cares for your front yard for low fees! NEW: 2020 roof, new plank floors+carpet+paint throughout. NEW sleek black stainless appliances & granite kitchen counters. HVAC & H2O heater just checked! Bright open plan. Well maintained. GORGEOUS, UPDATED, LIGHT-FILLED HOME! Get ready to make an offer on this truly move-in ready home in the center of the Triangle.

SEE MORE

MARKET HIGHLIGHTS

  • Raleigh-Durham combined metros' economy is worth over $137 billion in Gross Metro Product and projected to grow to $146 billion in 2019 (USMayors.org, 2018)
  • Raleigh-Durham combined metros has 65.3% labor force participation rate higher than the national rate of 62.8% (USMayors.org, 2018)
  • Raleigh-Durham combined metros contribute to 24.1% of North Carolina's state economy i.e. Gross State Product (USMayors.org, 2018)
  • University of North Carolina, Duke University and Davidson University systems drive rental demand
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Northwest Raleigh

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Northwest Raleigh

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9521873

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Spring Valley Elementary School Primary Regular 606 37 4
Neal Magnet Middle School Middle Regular 857 60 1
Southern School Of Energy And Sustainability High Regular 1,292 90 2

Spring Valley Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 37
4
GreatSchools Rating

Neal Magnet Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 60
1
GreatSchools Rating

Southern School Of Energy And Sustainability

  • Education Level: High
  • # of students: 1,292
  • # of teachers: 90
2
GreatSchools Rating
 

$228,600$279,400$254,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$882
Property Tax -$203
Property Insurance -$55
HOA -$45
Property Management Fees -$119
CASH FLOW
$65

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$254,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,060

INVESTMENT

$73,060

Down Payment
$63,500
Rehab Estimate
$5,750
Closing Costs
$3,810

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$882

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,500
Loan Amount $190,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$23,693

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,370

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,394

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4003$1,4954$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 11021 Feather Grass Lane Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.97
    •  
  • 12400 N Exeter Way Durham, NC 2
    • 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 2002
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 5629 Roan Mountain Place Raleigh, NC 3
    • 4 beds 3 baths ∙ 1,489 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,489 Sqft ∙ Built 2002
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 5517 Bridgeman Court Durham, NC 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2002
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 12325 Inglehurst Drive Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 1990
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
PROPERTY LISTING DETAILS
Kelsay Berland
1.919.951.4044
Keller Williams Realty United
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2361918
Last Updated: 01/16/2021
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